Australia's rich renewable energy resources gives it the potential to develop a zero-carbon export industry worth hundreds of billions of dollars a year and generate jobs to replace those dislodged in the fossil-fuel sector.

Realising those opportunities will be the aim of a four-year $10 million research effort at the Australian National University to be launched on Thursday by Angus Taylor, the energy and emissions reductions minister.

Australia's wind and solar resources leave it well placed to take advantage of the global shift away from fossil fuels, the ANU says.Credit:Bloomberg

The project, which ANU claims to be an Australian-first, will bring together a range of research disciplines to “futureproof” Australia's trade.

“In a rapidly decarbonising world, Australia needs to transform from exporting fossil fuels to exporting renewables," said Ken Baldwin, lead of the Zero-Carbon Energy for the Asia-Pacific project.

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“Iron ore and coal are our two biggest exports. But changes are already underway in the AsiaPacific region and Australia will not be able to rely on traditional fossil fuel exports indefinitely," Professor Baldwin said.

The venture will focus on developing renewable electricity systems, hydrogen fuels, renewable refining of metal ores and indigenous community engagement.

According to ANU, Australia already produces 437 terrawatt hours of green electricity per year, and is installing renewables at the highest rate per capita of any country in the world.

By contrast, Australia's energy exports account for 10 per cent of the globe’s total fossil-based emissions, the university said.